Did you know that Facebook might actually owe you some money?
This photograph, taken on November 5, 2021, shows the logo of U.S. online social media and social networking service Facebook on a laptop screen in Moscow. (Photo by Kirill KUDRYAVTSEV / AFP)
This is thanks to the social media platform's privacy settlement payout. Recently, Meta Platforms Inc.'s faced numerous lawsuits because of the privacy issues posed by Facebook.
Meta agreed to enter a $725 million privacy settlement to cover some of these lawsuits.
Now, there's a high chance that you have a share of this million-dollar settlement payout. But, before you claim your part, here are the major details you need to know first.
Facebook Privacy Settlement Payout Could Give You Money!
According to Mashable Asia's latest report, the $725 million privacy settlement will not only be used to pay users.
A picture taken on May 12, 2012, in Paris shows an illustration made with figurines in front of Facebook's homepage. Facebook, already assured of becoming one of the most valuable U.S. firms when it goes public later this month, now must convince investors in the next two weeks that it is worth all the hype.
Also Read: Meta Confirms Facebook, Instagram Users Can Avoid User-Tracking-but There's a Catch
Some of it will cover numerous legal and administrative fees. This means that the total payout for Facebook users will be less.
Another thing to remember is that the amount you will receive will depend on how many users will also claim their shares.
In short, the more Facebook users claim their part, the lesser money you will receive from Meta. Although this is the case, it is still worth the effort since it is free money. But are you really eligible?
Facebook Privacy Settlement Payout's Eligibility
Via its official Privacy Settlement page, Meta explained that users eligible for its Facebook privacy settlement payout are those living in the United States.
Their accounts should also be active between May 24, 2007, and December 22, 2022. If you are a U.S. resident using Facebook during the said date, you are eligible to take your share.
To do this, click here to access the claim form. Once you are there, fill out the needed information; name, city, street address, email address, contact number, etc.
When done, you can submit this form and wait for Meta's further announcement. You have until August 25 to submit the form.
Here are other stories we recently wrote about Facebook:
Recently, Facebook accounts were allegedly targeted by fake ChatGPT for the Google Chrome extension. Meanwhile, rumors claimed that Meta was working on a new Facebook Messenger feature similar to BeReal.
For more news updates about Facebook and other social media platforms, keep your tabs open here at TechTimes.
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